[Chambo]

It helps to get confirmation with the merchant on what he's looking for as well as manage his expectations upfront. For example, if he's looking for a 24 month alternative business loan but he says he's not paying over 10% for it, then you should inform him that his bank or community credit union is going to be a better option.

If you explain your program, your price scale, your underwriting criteria, get pre-qualification questions done on the client upfront, as well as get his confirmation that the estimated "pre-quote" you provide based on this is efficient, then getting his application package back isn't that hard at all.

A lot of brokers don't pre-qualify their client and a lot of them won't discuss pricing, underwriting, conditions, etc. at all. Then when their client brings docs in and finds out that you are offering a 1.20 factor over 6 months, and he is looking for pricing similar to what Lending Club offers, then all you are going to have is lost time and irritated merchants.

But that would require actually understanding and knowing what you are selling!!!

[ridextreme]

I thought you were referring to getting back a contract, not the initial application. Docs is usually referring to a contract.

I do have some very effective ways of getting back the initial application, and I actually get mine back quicker than all of the other ones he has on his desk from other companies.

So I prefer to keep beating everyone else by not disclosing my personal methods ESPECIALLY to a lead company such as yours.

http://dailyfunder.com/showthread.ph...s-in-our-leads

So did you decide to start keeping all of the good leads for yourself, and sell us all the dog crap smh. (not that I didn't know this was going on)

[Sean Cash]

So did you decide to start keeping all of the good leads for yourself, and sell us all the dog crap smh. (not that I didn't know this was going on)

I think Blindbid was just trying to start a lively conversation, not come up with ways to keep the good leads for himself.

[WhoisKingsley]

But that would require actually understanding and knowing what you are selling!!!

I see a lot of questions and solicitations on DF coming from employees of companies rather than decision makers which does lead to believe that they don't know what they are selling. DF has become a "go to" for a lot of reps out there wanting to do better at the job that they were sold on.

How does one train a sales agent now days? How do they expect them to perform if they aren't given the right tools to do their job?

[NBDC_Leads]

I see a lot of questions and solicitations on DF coming from employees of companies rather than decision makers which does lead to believe that they don't know what they are selling. DF has become a "go to" for a lot of reps out there wanting to do better at the job that they were sold on.

How does one train a sales agent now days? How do they expect them to perform if they aren't given the right tools to do their job?

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[Zach]

I see a lot of questions and solicitations on DF coming from employees of companies rather than decision makers which does lead to believe that they don't know what they are selling. DF has become a "go to" for a lot of reps out there wanting to do better at the job that they were sold on.

How does one train a sales agent now days? How do they expect them to perform if they aren't given the right tools to do their job?

Give them sales CD's and books... record their calls and critique... have them listen to yourself and other professional closers... Give them bullet points of their upcoming call that they should grasp and utilize (eg. focus on ROI, expediency, and probe & develop their needs)...

And most of all, tell them to MAKE MORE CALLS

[FUNd]

Give them sales CD's and books... record their calls and critique... have them listen to yourself and other professional closers... Give them bullet points of their upcoming call that they should grasp and utilize (eg. focus on ROI, expediency, and probe & develop their needs)...

And most of all, tell them to MAKE MORE CALLS

Make more calls...why? This is such an old sales cliche. I have seen countless reps that make a ton of calls and their numbers are dog****.

Then I see the guys who are highly trained, have a great personality, and are generally confident in their product - that don't kill themselves with the dialing - that do extremely well.

Granted that talking to prospects is key, but this mantra that it's all a numbers game, I just don't buy in. Never did.

[J.Celifarco]

Make more calls...why? This is such an old sales cliche. I have seen countless reps that make a ton of calls and their numbers are dog****.

Then I see the guys who are highly trained, have a great personality, and are generally confident in their product - that don't kill themselves with the dialing - that do extremely well.

Granted that talking to prospects is key, but this mantra that it's all a numbers game, I just don't buy in. Never did.

That depends on the leads people are calling. You can be the best trained person and be calling UCC and the training will help but at the end of the day that is a numbers game. If you are calling warm or hot leads then the training comes into play more because chances are there will be competition on those leads and just blowing up the person's phone will hurt more then help

[NBDC_Leads]

That depends on the leads people are calling. You can be the best trained person and be calling UCC and the training will help but at the end of the day that is a numbers game. If you are calling warm or hot leads then the training comes into play more because chances are there will be competition on those leads and just blowing up the person's phone will hurt more then help

Absolutely, Freaking A

[ridextreme]

That depends on the leads people are calling.

It's not only based on the leads, some people are just horrible at talking with people (instead of "at" them). I have heard countless times a rep gets someone on the phone that is interested, but they blow it because either the merchant doesn't like their personality when they talk condescending to them or the rep would scare them off by asking all the wrong questions such as "How's your credit" "Any history of tax liens or judgements?" "Any NSF's?" "Any negative days?" A minute ago they said they needed money, then all of a sudden they're not interested. So all this does is scares them away thinking they can not have any of this. We're gonna check all this anyway, why ask to scare them off thinking they won't qualify?

[Zach]

Make more calls...why? This is such an old sales cliche. I have seen countless reps that make a ton of calls and their numbers are dog****.

Then I see the guys who are highly trained, have a great personality, and are generally confident in their product - that don't kill themselves with the dialing - that do extremely well.

Granted that talking to prospects is key, but this mantra that it's all a numbers game, I just don't buy in. Never did.

The "make more calls" comment was something of a joke... Kind of like "Coffee is for Closers".

But hey, if you keep your quality consistent, then of course making more calls will yield a greater number of fundings.

[J.Celifarco]

I see a lot of questions and solicitations on DF coming from employees of companies rather than decision makers which does lead to believe that they don't know what they are selling. DF has become a "go to" for a lot of reps out there wanting to do better at the job that they were sold on.

How does one train a sales agent now days? How do they expect them to perform if they aren't given the right tools to do their job?

the lack of training that reps receive when starting in this industry in my opinion is one of the biggest problems facing this industry.

[jotucker1983]

But that would require actually understanding and knowing what you are selling!!!

Lol, you are correct!

I don't know, maybe I'm different guys, but I swear I hate the "passe" sales techniques of just listen to Zig Ziglar sales tapes, make sure you breathe in/out, make sure you break the ice, make sure you overcome those objections, make 700 calls a day, do some role play on the canned sales scripts, etc.

It's just passe mumbo jumbo, "sales training" that came out of the 1970's by Sales Managers who honestly didn't have a clue why their Top Sales Performers were actually performing so well. And most Sales Managers today STILL don't understand why their Top Performers perform so well, so they just repeat these tired passe mantras over and over.

Here's my take on this, if you are in Professional Sales, you have to approach this as a Business Proposition. So answer this question, why would a merchant sign up for a very expensive form of financing (a merchant cash advance)? Why would he do it?

It's surely not because you are charismatic and overcame his objections, it's surely not because you have such a "great speaking voice," it's because the guy is in a current situation where he needs external business capital in the form of debt financing.

That situation is driving the interaction, if you take that situation OFF the table, the entire altercation is over, doesn't matter how charismatic you are or how well you speak, his situation of needing business capital is why he's talking to you.

So let's say other options to get the capital aren't available for whatever reason and depending upon what he needs the capital for, it could still be of significance to where he can "afford" to pay a 1.12 - 1.20 over 7 months, or a 1.25 - 1.30 over 12 months.

So you present your offer to him, explain the program, the benefits, do some return on investment calculations, and shoot him over your application package. You get the package back and take it to the Funders in your Network that can fund him. Your Funder approves him, he accepts the terms, he's funded, you are paid, it's over.

You didn't "win the sale" because you overcame an objection, breathed a certain way, broke the ice, or any other "passe" sales training technique. The guy had a problem, you solved it, period. That's what I call doing Business.

Instead of training new guys on "passe" sales training techniques, instead train guys to:

- Do efficient secondary market research

- Do efficient primary market research

- Know all about their product, their lender and their platforms (up, down, all around)

- Know how to customize their product's pricing, service, structure, etc.

- Come up with different creative and integrated products based on market research

But again, these are just my opinions lol.